BAE Systems Wins Scandanavian Artillery Contract

by: Matthew Potter
March 29, 2010

Category: BAE Systems, Business Line, Companies, Contract Awards, Countries, Events, General Dynamics, Norway, production program, Sweden | RSS 2.0

Not that it really makes up for not winning the latest British armored vehicle contract which went to a team led by General Dynamics (GD) but BAE Systems (BAE:LSE) did win a contract to provide artillery to Sweden and Norway. The contract is worth over $250 million and is for a total of forty-eight of the Archer systems for the two countries.

Many European and overseas countries are putting money into upgrading all aspects of their military. The most important upgrade program right now is the F-35 which will replace F-16 aircraft in many NATO countries.

A contract like this while not huge will keep BAE Systems jobs and help the production line stay hot. This means that if Britain or another country wants the Archer it will be able to do so at lower prices then if the line went down due to lack of sales. BAE Systems has had a rough time of late with the loss of the U.S. Army truck, FMTV, contract to Oshkosh and the fines it must pay to settle bribery charges related to a large Saudi Arabian contract. Diverse product lines like this will help weather the down period.

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